My partner and I have just bought a property in Stilton. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been carried out for conveyancing in Stilton?
The question is vague as to the nature of the problems and if they are unique to conveyancing in Stilton. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner completes a questionnaire called a Seller’s Property Information Form. answers ends up being incorrect, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Stilton.
I am buying a semi-detached house in Stilton. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Stilton you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Stilton.
Is it the case that all Stilton conveyancing solicitors on the RBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the RBS approved list of solicitors they would need to be governed by the SRA. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
We have agreed to purchase a house in Stilton. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Coventry BS where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Stilton.
I have instructed a Stilton conveyancing practitioner having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Stilton postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Stilton.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Stilton I like with open areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Stilton for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Having checked my lease I have discovered that there are only 62 years left on my lease in Stilton. I now want to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the lessor. In some cases a specialist may be useful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Stilton.
I am the registered owner of a split level flat in Stilton, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Stilton with a long lease are worth £222,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2090
You have 71 years left to run the likely cost is going to be between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.